Surya Kunda Hydropower To Issue IPO; Kumari Capital Limited Appointed as Issue and Sales Manager

Surya Kunda Hydropower Company Limited has appointed Kumari Capital Limited as the securities issue and sales manager to issue 13,79,350 shares of ordinary shares at a par value of 100 rupees per share to the residents of the project-affected areas and general public.

The agreement was signed by Mr. Satish Neupane, Chairman of the Board of Directors on behalf of Suryakunda Hydropower Company Limited, and Mr. Puspa Sharma, Chief Executive Officer on behalf of Kumari Capital.

Suryakunda Hydropower Company Limited, a main investor of Api Power Company Limited, is constructing the Upper Tadi Khola Hydroelectric Project of 11 megawatt capacity in Ghyangphedi, Nuwakot district. About 70 percent of the project's construction work has been completed. Api Power Company Limited has a majority share investment in this project.

The project is expected to be operational within the next 10 months, utilizing electromechanical components manufactured by India's Lowell Energy Private Limited Company. The electricity generated will be connected to the Samundratar substation through a 33 KV double-circuit transmission line. The group involved in this organization has produced over 100 megawatts of electricity and solar energy, contributing significantly to the country's energy production.